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MTN reports earnings jump amid strong customer growth

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MTN Group said it balanced an accelerated investment into its networks with the delivery of solid interim financial results for the six-month period ended June 2022.

MTN Group said it balanced an accelerated investment into its networks with the delivery of solid“Notwithstanding the tough macro conditions, MTN remained focused on investing in our markets to increase broadband coverage and to reduce the cost to communicate,” said president and CEO Ralph Mupita.

In constant-currency terms, service revenue grew by 14.8% to R92.5 billion; and earnings before interest, tax, depreciation and amortisation increased by 15.1% to R43.9 billion before once-off items.Group fintech revenue up by 9.9%Reported headline earnings per share at 567 cps, up 46.5%Subscribers increased by 5.5% year-on-year to 281.6 million

MTN SA deployed capex of R3.2 billion in H1 2022 and continued to scale up its 5G offering after the allocation of 3,500MHz spectrum with 443 5G sites rolled out in the period.

 

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